Uber will not face criminal charges for a fatal crash involving one of its self-driving cars. Prosecutors have ruled that the company is not criminally liable for the death of Elaine Herzberg, 49, who was struck as she crossed a road in Tempe, Arizona. The car’s back-up driver could still face criminal charges. A police… Continue reading Uber ‘not liable’ for self-driving death
Tag: Uber
Uber not responsible for fatal accident
After the fatal accident with an Uber vehicle is now clear, Uber was not to blame. in the March last year Overrun an Autonomous Test Car from Over a woman on a street in Tempe in the US state Arizona, There followed a media outcry based on the motto that people knew that the technology… Continue reading Uber not responsible for fatal accident
Prosecutors find Uber not criminally liable in 2018 Arizona self-driving crash that killed a pedestrian
Yavapai County prosecutors said today that Uber is not criminally liable in a crash last year when one of its self-driving cars fatally struck a pedestrian in Tempe, Arizona. The autonomous SUV, which had a backup driver behind the wheel, collided with Elaine Herzberg while she was walking across the street. She later died as… Continue reading Prosecutors find Uber not criminally liable in 2018 Arizona self-driving crash that killed a pedestrian
Fleets are the way towards popularisation of electric vehicles: Anand Mahindra
By Munish Shekhavat Geneva: For Mahindra group, from whose stable electric luxury supercar Battista is being rolled out, the path to mass adoption of electric vehicles will be through fleet such as Ola, according to the group’s Chairman Anand Mahindra. At present electric vehicles (EVs) are out of reach of price sensitive buyers, specially in… Continue reading Fleets are the way towards popularisation of electric vehicles: Anand Mahindra
Grab is now valued at $14 billion after landing $1.46 billion from SoftBank’s Vision Fund
Brent Lewin | Bloomberg | Getty Images
The Grab logo is displayed on a taxi in Bangkok, Thailand, on Friday, March 9, 2018.
Southeast Asian ride-hailing giant Grab said Wednesday it has secured $1.46 billion in new funds from the SoftBank Vision Fund.
In its current funding round, Grab has raised more than $4.5 billion with investments from car makers Toyota and Hyundai Motor, tech giant Microsoft, China's Ping An Capital and U.S.-based asset management company OppenheimerFunds.
Following the fresh financing from the Vision Fund, Grab's valuation now stands at $14 billion, according to a source familiar with the matter.
Grab President Ming Maa said in a statement the company has seen “overwhelming shareholder support in our current fundraising round, with strong interest both in terms of capital invested and the quality of strategic partners.”
He added Grab continues to “receive new investor interest” and that it looks forward to “welcoming more global industry leaders as partners in 2019.”
The current funding round started after U.S. ride sharing giant Uber sold its Southeast Asia business to Grab and acquired a 27.5 percent stake in the business, according to Reuters.
Grab said it plans to use the funds to build more everyday services onto its platform and expand its presence in financial services, food delivery, parcel delivery, content and digital payments.
“This investment will help the company explore exciting new opportunities across on-demand mobility, delivery and financial services as it continues to grow its offline-to-online platform across Southeast Asia,” David Thevenon, partner at SoftBank Investment Advisers, said in a statement.
While Grab started out with ride-hailing, the start-up has over time introduced many services including food and grocery delivery, mobile payment, and micro-lending to the unbanked or underbanked in Southeast Asia. Earlier this year, the company said it struck a partnership with regional video streaming start-up Hooq that will allow users to stream movies and TV shows on the Grab app.
The idea of bundling multiple services inside a single app stems from the fact that users tend to use only a handful of applications everyday, even if they might have hundreds of apps downloaded onto their smartphones.
Last year, Grab said it was forming a joint venture company with Chinese health care services platform Ping An Good Doctor to provide integrated medical services including artificial intelligence-assisted online consultations, appointment bookings and medicine delivery.
VW says driverless vehicles have limited appeal and high cost
GENEVA, March 5 (Reuters) – Fully autonomous vehicles will take at least another five years to perfect, with the cost and complexity of rolling out the technology globally serving to undermine the business case, Volkswagen’s head of commercial vehicles said. Autonomous cars require high-tech infrastructure, hugely expensive lidar and radar systems, as well as pricey… Continue reading VW says driverless vehicles have limited appeal and high cost
Failed meal-kit service Munchery owes $6M to gift card holders, vendors
Several weeks after a sudden shutdown left customers and vendors in the lurch, meal-kit service Munchery has filed for bankruptcy. In the Chapter 11 filing, Munchery chief executive officer James Beriker cites increased competition, over-funding, aggressive expansion efforts and Blue Apron’s failed IPO as reasons for its demise. Munchery owes $3 million in unfulfilled customer… Continue reading Failed meal-kit service Munchery owes $6M to gift card holders, vendors
FlixBus, the German Uber-like bus service, is buying rival Eurolines from Transdev
While all eyes are on what Uber, Lyft and Didi will do this year as transportation-on-demand using private vehicles continues to consolidate, there’s also some interesting moves being played out in the adjacent business of bus and coach services. Today, FlixBus, the German startup backed by Daimler, General Atlantic, Silver Lake and others that has… Continue reading FlixBus, the German Uber-like bus service, is buying rival Eurolines from Transdev
Go-Jek pulls in $100M more for its massive Series F round
U.S. ride-hailing giants Lyft and Uber are going public in the U.S. imminently, but over in Southeast Asia, the two largest on-demand companies are still madly fueling up on investment capital. The latest update to that story today saw Go-Jek, the Indonesian ride-hailing firm aiming to go regional in Southeast Asia, announced that it has… Continue reading Go-Jek pulls in $100M more for its massive Series F round
Electric scooter sharing firm VOI raises $30 mln for European expansion
STOCKHOLM (Reuters) – Electric scooter sharing firm VOI Technology has raised $30 million in another fundraising round since being set up seven months ago for its European expansion and investment in research to fend off growing competition, it said on Monday. Uber Technologies Inc, Alphabet and several other high-profile investors are betting scooter-sharing will rise… Continue reading Electric scooter sharing firm VOI raises $30 mln for European expansion